A limited constitutional government calls for a rules-based, freemarket monetary system, not the topsy-turvy fiat dollar that now exists under central banking. This issue of the Cato Journal examines the case for alternatives to central banking and the reforms needed to move toward free-market money.

The more widespread use of body cameras will make it easier for the American public to better understand how police officers do their jobs and under what circumstances they feel that it is necessary to resort to deadly force.

Americans are finally enjoying an improving economy after years of recession and slow growth. The unemployment rate is dropping, the economy is expanding, and public confidence is rising. Surely our economic crisis is behind us. Or is it? In Going for Broke: Deficits, Debt, and the Entitlement Crisis, Cato scholar Michael D. Tanner examines the growing national debt and its dire implications for our future and explains why a looming financial meltdown may be far worse than anyone expects.

The Cato Institute has released its 2014 Annual Report, which documents a dynamic year of growth and productivity. “Libertarianism is not just a framework for utopia,” Cato’s David Boaz writes in his book, The Libertarian Mind. “It is the indispensable framework for the future.” And as the new report demonstrates, the Cato Institute, thanks largely to the generosity of our Sponsors, is leading the charge to apply this framework across the policy spectrum.

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Hysteria and the Threat of Mumbai-Style Attacks in Europe

The State Department has issued a travel warning for U.S. citizens visiting Europe. The alert comes after U.S. and European officials said there was a credible threat of commando style terror attacks against Britain, France, and Germany, similar to the attack in Mumbai almost two years ago.

Although many travelers were left wondering what to do in the face of a broad warning, the Obama administration has decided to take decisive action by stepping up drone strikes along the Afghanistan-Pakistan border against militants affiliated with the Haqqani network, Hafiz Gul Bahadur’s group, and other terrorist outfits.

Nearly a decade after 9/11, these issues underscore a deeper problem with U.S. policy: determining what constitutes a terrorist sanctuary and deciding what course of action is most prudent for eradicating them.

Drone strikes are imperative for a policy of offshore balancing. Nevertheless, they are piecemeal, tactical efforts that do little to alter the Pakistani security establishment’s support for Islamist proxies as a hedge against India, Pakistan’s primary enemy. Indeed, massive aerial bombings did not win the war in Vietnam, and it’s not going to change the bigger picture in South Asia.

I go on to mention that:

…the neo-jihadists that threaten America are not held hostage to the outdated notion of “territory.” Only we are. We seem to have forgotten that 9/11 was planned not only in Afghanistan, but also in Germany, Spain, and the United States. Even the radicalized youths suspected of plotting the recent Mumbai-style terror plot in Europe came from the same mosque in Hamburg where the 9/11 hijackers gathered.